Claren Road Co-CIO John Eckerson Said to Be Retiring From Firm

John Eckerson, a co-founder and co-chief investment officer of Claren Road Asset Management, is retiring from the hedge fund majority-owned by Carlyle Group LP at the end of the year, according to a person with knowledge of the matter.

Sean Fahey will be sole CIO of Claren Road, said the person, who asked not to be identified because the firm is private. Albert Marino, chief operating officer at New York-based Claren Road, declined to comment on the changes, which were reported earlier Friday by the Wall Street Journal.

Claren Road investors asked to pull almost half of the hedge fund’s $4.1 billion in assets at the end of the current quarter following losses this year, a person with knowledge of the matter said in August.

The firm was founded in 2005 by former Citigroup Inc. credit traders Eckerson, Fahey and Brian Riano, as well as Marino. Carlyle bought a majority stake in Claren Road five years ago as part of a push into hedge funds.